<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>ANZ has warned investors to brace for a more than $1.1 billion blow to its bottom line when it releases its half-year updates in a little over a week.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The big four bank announced this morning its second-half profit for 2025 will be impacted by several "significant items", totalling a combined $1.109 billion after tax.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A large proportion of that is associated with the </span><a href="https://www.9news.com.au/national/anz-announces-loss-of-3500-jobs-in-one-year/827cf978-6f23-479b-baf6-a2ceb93dd241"><span>decision taken last month to slash 4500 jobs</span></a><span> – 1000 of which were contractors, while the remaining 3500 were full-time employees.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/sheffield-shield-tributes-death-ben-austin/e2171a34-dfae-4dcd-8174-ff3b69e845a8"><strong><span>Cricket stars' touching tribute to teen killed in training tragedy</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>ANZ said the cost of those redundancies will hit $585 million, although it drops to $414 million once tax is taken into account.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>When it announced the job cuts, ANZ said customer-facing frontline roles would only see a limited impact, and chief executive Nuno Matos insisted the move was necessary to ensure the bank's future success.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We are operating in a rapidly evolving and highly competitive banking environment," he said at the time.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/finance/anz-1-1-billion-significant-costs-half-year-results/4288142a-a00e-4dd4-88a7-f3c41f633f0b" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"As we continue our strategic review, we are eliminating duplication and complexity, stopping work that doesn't support our priorities, and sharpening our focus on improving our non-financial risk management practices across the bank."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/australian-youtube-family-announces-move-to-the-uk-to-avoid-upcoming-social-media-ban/fb06c972-d4fb-415b-87ea-6f932443961f"><strong><span>Australian YouTube family moves to UK to avoid upcoming social media ban</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Also included in ANZ's $1.1 billion blow is $271 million in fines and costs for </span><a href="https://www.9news.com.au/national/anz-agrees-to-240-million-dollar-fine-over-misconduct/326f0162-61d6-4afd-8046-39f9e4192875"><span>years of unconscionable conduct</span></a><span>, including failing to respond to customer hardship notices and making misleading statements about interest rates.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The bank agreed to pay a record $240 million fine for the conduct after it was sued by financial watchdog ASIC.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Federal Court still needs to approve that fine, and ANZ said this morning it had also accrued $31 million in costs related to the matter.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Following this morning's announcement, ANZ's share price fell by a little over half a per cent to $36.65, although that's still far higher than the roughly $33 it was trading at before September's job cuts were revealed.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The bank will post its half-year earnings on November 10.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>:</span></em></strong><span> </span><em><strong><span>Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the</span></strong></em><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple App Store</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU" target="_blank"><strong><em><span>Google Play</span></em></strong></a><strong><em><span>.</span></em></strong></div></div>